ELAN

Elanco Animal Health Q3 Profit Beats Estimates; Tightens Full-year Outlook

(RTTNews) - Elanco Animal Health Incorporated (ELAN), an animal healthcare company, Thursday reported net income of $364 million or $0.73 per share for the third quarter, compared with net loss of $1.096 billion or $2.22 per share in the same quarter a year ago, mainly helped by a gain of $640 million on divestiture. In addition, the last-year quarter had a goodwill impairment charge of $1.042 billion.

On an adjusted basis, net income was $66 million, or $0.13 per share, down from $90 million or $0.18 per share last year. On average, 10 analysts expected earnings of $0.12 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $1.030 billion from $1.068 billion in the previous year. The consensus estimate was for $1.03 billion.

For the full year, the company has tightened its outlook. It now expects revenue in the range of $4.420 billion - $4.450 billion, compared with the previous outlook of $4.410 billion - $4.460 billion. Adjusted EPS outlook has been revised to $0.89 - $0.95 from $0.88 - $0.96. Analysts expect the company to report earnings of $0.92 per share on revenue of $4.43 billion for the year.

For the fourth quarter, Elanco Animal Health expects revenue of $1 billion - $1.030 billion and adjusted EPS of $0.13 - $0.18. The consensus estimate for revenue is $1.01 billion, and for EPS is $0.16.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Data is currently not available

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.